Is your local area showing recession signs?

[PauletteGoddard]

Now the trick is not to feel sorry for struggling stores and restaurants and spend more money than I should!

This will be pretty easy for me. The local cafes won't flat out write "RECESSION HOURS" on their signs posted on windows, but they do have "Winter Hours" which are reduced. When they reduce their hours of operation they reduce the likelihood I'll drop by, and therefore reduce my opportunity to purchase something from them.

I do not live in an area known for common three-foot high snowbanks. 36F is a common temperature in January here. That's how I inferred the "winter hours" are "recession hours." I've also been here for over ten years and hadn't seen "winter hours" posted. This morning in the space of forty minutes and two miles I've seen two.

[CubsFan23]

I too live in the Northern Chicago suburbs, and agree w/illinigamer. I was looking at home prices in the school district where I teach, and the prices/number of homes sold/% of asking price/# days on the market were all well above national averages.

On a different note, if people are saving more because the media is reporting doom and gloom, isn't that ultimately a good thing?

[maat55]

I think any recession that comes will be due to hype. Hopefully the stimulis package will head it off just in theory. Just like the price of gold is going up due to over promotion.

[cantretire]

Do you live in an affluent area? My neighborhood is just starting to show some signs, mainly houses that won't sell. Still, there are plenty of new, expensive cars showing up in driveways.

And remember, just because people are spending money, doesn't mean that they are really able to do so. They could be in denial and bankrupt in a year or two.

[Ima saver]

Bishop, where do you live in Virginia! There has not been even one permit for a spec house issued this year so far. Two guys at the place we buy building materials have been let go after working there for 17 years.

[maat55]

My business has slowed some but it's not uncommon for it to do this at the first of the year. It has effected how I think about the near future. I'm more geared toward building my EF fund than paying off debt. If my business stables and the recession talk slows, I will take my EF savings and payoff my last debt.